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Parthenon Capital invests in loanDepot

Parthenon Capital Partners, a private equity firm with offices in San Francisco and Boston, has completed an investment in loanDepot, an online consumer direct mortgage origination company based in Irvine, California.

The purpose of the investment is to provide the necessary growth capital for the company to secure warehouse funding and to continue to develop the leading origination platform in the industry.

loanDepot is led by industry veteran and chief executive officer Anthony Hsieh, a pioneer in the mortgage industry who previously built two mortgage businesses, LoansDirect and Home Loan Center. Hsieh co-invested alongside Parthenon in the transaction.

“We greatly appreciate the support of the Parthenon Capital Partners team,” says Hsieh. “We were fortunate to have a number of potential funding options but chose Parthenon Capital Partners given our longstanding relationship with their partnership group and their deep understanding of the mortgage industry.”

“We are thrilled to partner with the preeminent team in the mortgage origination business,” adds Brian Golson, managing partner of Parthenon Capital Partners. “Since we first met Anthony and his team in 2003, we have looked for the right opportunity to partner with them, and we’re excited to have found it by supporting their new venture, loanDepot.”

loanDepot, which officially launches this week, provides purchase mortgages and refinancing direct to consumers through its online portal. In addition to finding the best mortgage solutions for consumers, loanDepot provides significant content designed to educate the consumer and demystify the mortgage process.

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